The new device is said to be faster and smaller (166x114x8.7mm) than the old Kindle weighing just 170g. The cheap new Kindle's aren't laking on the storage front either as each £89 eReader comes with 2Gb of space - which works out at roughly 1,400 books. Amazon say that each book can be downloaded at an average speed of 60-seconds.

Amazon's developers haven't stopped there either, they've improved the battery life and the E Ink display. They've also managed to sign up 11,000 public libraries to allow users loan Kindle books from their local library. Amazon are also giving Kindle customers free cloud storage for all their purchased Amazon content.

The new £89 eReader comes with built in Wi-Fi, has a 600 x 800 pixel resolution at 167 ppi and will fully charge in an impressive 3 hours.

Fans of the newly priced eReader can order it today, but will have to wait until 12 October for the first batch to be shipped.

Amazon have also announced the release of the $99 Wi-Fi only and $149 3G Kindle Touch. The Kindle Touch is a colour screen eReader in essence, that lets users have access to videos as well as books. One new feature for the Kindle Touch is Prime Instant Video, it costs $79 a year and gets you access to 11,000 movies and TV shows (commercial free).